IS 3003 chapter 9 – Flashcards

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use of the Internet and Web to transact business; digitally enabled transactions
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E-commerce
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E-commerce builds on traditional commerce by adding the _______ that networks and the internet offer. It began in _____ and grew exponentially' still growing even in a recession.
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flexibility; 1995
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Business types of commerce include...
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1. Bricks-and-mortar business 2. Clicks-and-mortar business (clicks-and-bricks) 3. Pure-play business (also called .com's, clicks only, or virtual)
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E-commerce is different because of _______ which is having Internet/Web technology available everywhere: anytime, anyplace
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ubiquity
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E-commerce is different because of _______ ______ which is the technology reaches across nation boundaries, around Earth
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Global reach
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Ubiquity effect is a new "________", is enhanced customer convenience and reduced shopping _____
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marketspace; costs
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What about e-commerce that is different allows commerce enabled across cultural and national boundaries seamlessly and without modification. Marketspace includes, potentially, billions of consumers and millions of businesses worldwide
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Global reach
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E-commerce is different because of ________ ________ which is one set of technology standards: internet standards.
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universal standards
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Universal standard lower _______ ______ ______ - costs merchants must pay to bring goods to market AND lower consumers' ______ ______ - effort required to find suitable products.
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market entry costs; search costs
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_______ ______ help disparate computer systems easily communicate with one another
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Universal standards
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E-commerce is different because of _______ which is the complexity and content of a message (video, audio, and text)
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richness
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E-commerce is different because of _______ which is e-commerce can provide two way communication between merchant and consumer
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interactivity
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E-commerce is different because of _______ ______ which is the total amount and quality of information available to all market participants
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information density
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Information density's effect on consumers has greater _____ ______ which is the ease of finding out the cost of an item, as well as greater _____ _______ which is the ability to find out the actual cost to the merchants
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price transparency; cost transparency
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Interactivity helps consumers engage in dialog that dynamically adjusts _______ to the _______. The consumer becomes __-______ in process of _______ goods to the market
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experience; individual co-participant; delivering
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Information density's effect on merchants enable merchants to engage in _____ _______ which is selling the same goods to different targeted groups at different prices
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price discrimination
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E-commerce is different because of ________ which is the ability to target marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases and ________ which is modification of a good or service based on a user's preference
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personalization; customization
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E-commerce is different because of _____ _______ which allows users to create and share content in the form of text, videos, music, photos...
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social technology
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the effect social technology has is a creation of a new "_____-__-______" model of mass communications
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many-to-many
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What are four things digital markets reduce and the things digital market enable?
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REDUCE: information asymmetry, search costs, transaction costs, menu costs ENABLE: price discrimination, dynamic pricing, disintermediation
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removing layers of intermediary layers ______ the cost to the consumer
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reduces
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Goods that can be delivered over a digital network (music, video, software, newspapers, books
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digital goods
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With digital goods, the cost of producing the first unit is almost the _____ cost of product: marginal cost of producing 2nd unit is about _____ and then the cost of delivery over the internet is very ____ but marketing costs ____ ___ ____
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entire, zero, low; stay the same
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Business-to-consumer (B2C) Consumer-to-consumer (C2C) Business-to-business (B2B) Government-to-citizen (G2C) Government-to-Business (B2B) Government-to-Government (G2G) are all based on _______ and Mobile commerce (m-commerce) is based on _______ used by _______
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participants; platform; participants
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What does B2C, C2C, and B2B stand for?
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Business-to-consumer Consumer-to-consumer Business-to-business
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_____ businesses sell their products or services directly to consumers over the Internet, may involve disintermediation
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B2C: business-to-consumer
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_____ Involves electronic transactions among businesses; businesses buying from and selling to each other over the Internet - facilitates information sharing
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B2B: business-to-business
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_____ Involves business transactions between users; offer goods and services to assist consumers interacting with each other over the Internet
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C2C: Consumer-to-consumer
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What are two common B2C e-commerce models?
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E-shop and E-mall
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_____ is the fastest growing segment of e-commerce
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B2B
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B2B transactions tend to be more ______ and have high ______ _____ but they lower _______ costs and improves _______ by eliminating many labor-intensive tasks
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complex; security needs; production; accuracy
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An example of a C2C online classified ad would be _______ and an online auction sites would be _______
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craigslist.org eBay.com
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______: consists of a number of e-shops; serves as a gateway (portal) through which a consumer can access multiple e-shops
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E-Mall
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______: an on-line version of a retail store
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E-shop
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C2C online auction sites use a pricing model called ______ ______ where sellers use the site as a selling channel to many buyers and highest bid wins
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forward auction
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More traditional B2C models utilize ______-______ pricing where company sets the price thta consumers pay but now companies like Priceline.com, which are B2C relationships, utilize ______- pricing where the consumer specifies the price he/she is willing to pay, the company can accept or reject it
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Menu-driven Reverse
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What are three things B2B reduces?
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1. delivery time 2. inventory levels 3. prices
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B2B uses _______ ____ _______(____) which is where computer-to-computer exchange of standard transactions such as invoices and/or purchase orders
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electronic data interchange (EDI)
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Major industries have EDI standards that define ______ and ______ fields of electronic documents for that industry - they automate transaction for B2B e-commerce and continuous inventory. However, more companies increasingly moving away from private networks to the Internet for ______ to ______ _____
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structure; information linking; other firms
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______ ______ ______ (______ ______) are large firm using extranet to link to its suppliers, distributors, and other key business partners. They support Product design and development, Marketing, Production scheduling and inventory management, unstructured communication (graphics and e-mail)
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private industrial networks (private exchanges)
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In private industrial networks firms may post _____ and _____ _____ to bid on announced products or requests for quotation (RFQs).
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needs; invite sellers
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Intranets, Extranets, Virtual private networks (VPNs), Electronic data interchange (EDI), Private industrial networks (private exchanges), Net marketplaces & Exchanges are all utilized by _____
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B2Bs
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Private industrial networks us a pricing model called ______ ______ where vendors provide quotes (bid) to firm on price they will sell for - buyer selects the vendor with the lowest bid or quote
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reverse auction
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___ _______ or ___ ____ _______ are single digital market for many buyers and sellers. They are industry-owned or owned by independent intermediary and generate revenue from transaction fees, other services
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net marketplaces (e-hibs) or 3rd party exchanges
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involves the use of Internet technologies to transform government(s) by improving the delivery of services and enhancing the quality of interaction between the citizen-consumer and the various branches of
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E-government
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Net marketplaces or 3rd part exchanges use prices established through _______, _______, _____, or ______ prices
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negotiation, auction, RFQs; fixed
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What are the three categories of e-government models?
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G2C: government-to-citizen G2B: government-to-business G2G: government-to-government
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G2C have government service provided on-line to citizens/customers as well as consumer initiated transactions with government...give one example of each of these services.
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Gov to citizens/sustomers: Renew driver's licenses, passports, visas, Medicare Medicaid benefits, social security, food stamps, public service announcements Consumer to gov: Elections/voting, census/demographic information, file/pay taxes
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Net marketplaces or 3rd party exchanges are a good ______ marketplaces for specific industries and good ______ marketplaces for goods and services that are used across a variety of industries.
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vertical; horizontal
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G2B have governemtn service to businesses and business initiated transactions to government... give one example of each of these services.
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Gov to business: Information about regulations, licenses; import/export/tariff information; forms Business to gov: Filing information with SEC/EEO/IRS, paying taxes/fees
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What are four information topics exchanged using G2G?
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1. Local: health department, traffic, crime 2. State: state budget information, education, Medicaid programs, statewide criminal records, transportation 3. National: Medicare programs, Social Security, transportation, national crime records, disaster assistance 4. International: international trade agreements, treaties, immigration information, international arms and terrorist information
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The use of wireless mobile devices for purchasing goods and services
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M-commerce
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What are four types of e-commerce?
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1. Location-based service 2. Banking and financial service 3. Wireless advertising 4. Games and entertainment
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____ _______ are online marketplaces where multiple buyers can purchase from multiple sellers
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net marketplaces
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Receive a referral fee or % of the sale/revenue when they refer a visitor to another site
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affiliate
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Offer basic services or content for free, but charge a premium for advanced or special features
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Free/Fremium
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Create a digital environment where buyers and sellers can meet, display products, search for products, and establish prices
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Market creator
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Provides an on-line meeting place where people with similar interests can communicate and find useful information
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Community provider
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The company receives a fee for executing a transaction (aka brokerage)
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Transaction fee
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Earn income by selling goods and services
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Sales
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An extension of traditional advertising media but on the web (ie: banner ads, pop-up ads, pop-under ads, spot leasing, viral marketing)
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Advertising
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Processes on-line sales transactions in return for a fee
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Transaction broker
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Charge a subscription fee for access to material or charge for a "membership"
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Subscription
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Provides initial entry point to the web along with specialized content and other services
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Portal
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Provides digital content such as news, music, other types of intellectual property
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Content provider
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Sells services (not tangible products) on-line
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service provider
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On-line retail store, sells products
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E-tailer
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What is the most popular Web 2.0 service?
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social networking
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What sites swap shopping ideas with friends? (Kaboodle, ThisNext)
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Social shopping sites
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What service do corporations set up their own profiles to interact with customers, market their products/services and gather feedback?
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Social networking sites
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On-line communities are ideal venues to employ _____ _______ techniques
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viral marketing
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Social networking sites sell _____ ads, ____ ________ information, and music, videos and e-books
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banner; user preference
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Based on concept that large numbers of people can make better decisions about topics and products than a single person
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wisdom of crowds
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Peer-to-peer betting markets on specific outcomes (elections, sales figures, designs for new products) - customer places bets or votes for or against specific outcomes
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Prediction markets
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Organized web sites where individuals can ask for direct financial contributions from family, friends, and others to help fund some type of venture
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Crowd-funding
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Where firms offer incentives to customers for solving a problem or coming up with an idea
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crowdsourcing
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Crowd funding is a way for individuals to _____ their money through the internet to support other's artistic, education, and business efforts as well as ______ and ______ _____
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pool; charities; disaster relief
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What are four models of crowd-funding
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1. Equity-based 2. Lending-based 3. Reward-based 4. Donation-based
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What are two ways the internet provides marketers with new ways of identifying and communicating with customers
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1. Long tail marketing 2. Behavioral targeting
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E-commerce marketing advertising formats include search engine ______, ______ ads, ____ _____, and _____
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marketing, display, rich media, and e-mail
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Web Site ______ ______ is where e-commerce web sites have to to track a shopper's every step through an online store.
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Visitor tracking
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Tracking online behavior of individuals on thousands of Web sites
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Behavioral Targeting
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Two examples of behavioral targeting are...
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1. Clickstream data 2. Personalization
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Ability to reach a large audience inexpensively
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Long tail marketing
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use of search engines to deliver sponsored links (for which advertisers have paid) in search engine results
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Search Engine Marketing
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The process of changing a site's content, layout and format in order to increase the ranking of the site on popular search engines and to generate more site visitors
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Search Engine Optimization
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Part of search engine optimization is _______ which is using a variety of deceptive techniques in an attempt to manipulate search engine rankings
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spamdexing
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Method for improving the volume or quality of traffic to a web site; improving the ranking of a web site in search engine listings
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Search Engine Optimization
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What are three recommendations for optimizing a web site? These recommendations are for editing a site's contents and HTML code to increase its _______ to specific _______
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keywords, page title, and inbound links relevance; keywords
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______ e-commerce is based on a mapping of all significant online relationships called _______ ______ ______
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social; digital social graph
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______ ______ is the fastest growing media for branding and marketing
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social media
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An effort to provide fewer, more relevant, and trustworthy search results based on a person's network of social contacts
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Social Network Marketing & Social Search
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Social Network Marketing & Social Search is an environment where consumers ____ their ______ for ______ on purchases of products, service, and content. It seeks to leverage individuals ______ over others in their digital social graph
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ask; friends; advice influence
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What is the target for social network marketing and social search?
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Target is a social network of people sharing interests and advice
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Money or script that is exchanged electronically
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Electronic payment
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An Internet-based company that facilitates payments over the Internet
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Financial Cybermediary
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Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions
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Micropayments
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Decreased costs Better relationships with suppliers, customers, business partners Price transparency - all can trade at same price Round the clock 24/7/365 Global operations More information on potential customers Increasing customer involvement/feedback Improving customer service Increasing flexibility and ease of shopping Increasing the number of customers Increasing opportunities for collaboration with business partners Increasing return on investment because inventory needs are reduced Offering personalized services and product customization Reducing administrative and transaction costs are all...
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advantages of e-commerce
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Bandwidth capacity problems Accessibility Acceptance Security issues Potential Liability Issues Taxation rules are all...
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disadvantages/challenges of e-commerce
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To build an e-commerce web site you need to assemble a team with the skills required to make decisions about what four topics?
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1. Technology 2. Site Design 3. Social and information policies 4. Hardware, software, and telecommunications infrastructure
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_______ _______ should drive the site's technology and design
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Customer's demands
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______ ______ drive the technology
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business decisions
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What are three choices of building the web site?
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1. Completely in-house 2. Mixed responsibility 3. Completely outsourced
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___% of budget is system _______ and _______ _______ when building an e-commerce web site
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50; maintenance; content creation
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